Terreno Announces Property Option Agreement

About this update from Terreno Resources Corp.

[{"type":"text","content":"Terreno Announces Property Option Agreement(via TheNewswire)\n \n \nTORONTO, CANADA / TheNewswire / January 22, 2018 - Terreno Resources Corp. (TSXV: TNO.H) (\"Terreno\" or the \"Company\") is pleased to announce that it has signed a definitive property option agreement with an Ontario private company under which Terreno may earn a sixty percent (60%) interest in the Las Cucharas Gold & Silver Project in Mexico. The Las Cucharas Project consists of seventeen (17) concessions covering slightly over four thousand four hundred forty-five (4,445) hectares.\n\n \n \nTerreno may earn a sixty percent interest by incurring exploration expenditures and by issuing Terreno common shares as follows:\n\n \n \n- two million common shares within 10 days of TSX Venture Exchange acceptance of the property acquisition\n\n \n \n- two and a half million common shares on each of the first and second anniversary of the option agreement\n\n \n \n- three million common shares on the third anniversary of the option agreement\n\n \n \n- five million shares on the fourth anniversary of the option agreement within five (5) days of the transfer of a sixty percent (60%) interest in the concession titles\n\n \n \n- cumulative exploration expenditures of C$700,000 by October 31, 2021 including $200,000 by October 31, 2019 and $450,000 by October 31, 2020\n\n \n \nThe property option, once earned and exercised, will make the Las Cucharas Project subject to a three percent (3%) net smelter return (NSR) royalty payable to Maverix Metals Inc. (TSX-V: MMX).\n\n \n \nThe agreement has provisions for binding arbitration to resolve any potential disputes that may arise. It also includes mutual rights of first refusal on any offers to purchase or sell any portion of the property interest, and is subject to a two kilometre area of interest. \n\n \n \nMr. Brown states that: \"The Las Cucharas Gold & Silver Project represents an excellent advanced project with which Terreno expects to apply to graduate to the TSX Venture Exchange. We anticipate identifying potential drill targets within three months after a detailed review of all historical work and results and to then advance the project to being permitted for drilling within six months.\" \n\n \n \nAdditional information on the Company is available at www.sedar.com \n\n \n \nFor additional information, contact: ...

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